Scully Corporation’s comparative balance sheets are presented below. SCULLY - 88249

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Scully Corporation’s comparative balance sheets are presented below. SCULLY CORPORATION Balance Sheets December 31 2011 2010 Cash $ 4,300 $ 3,700 Accounts receivable 21,200 23,400 Inventory 10,000 7,000 Land 20,000 26,000 Building 70,000 70,000 Accumulated depreciation (15,000) (10,000) Total $110,500.00 $120,100.00 Accounts payable $ 12,370 $31,100 Common stock 75,000 69,000 Retained earnings 23,130 20,000 Total $110,500.00 $120,100.00 Scully’s 2011 income statement included net sales of $100,000, cost of goods sold $60,000, and net income of $15,000. Show computation (equation) for the following: a. Current ration b. Acid-test ratio c. Receivables turnover d. Inventory turnover e. Profit margin f. Asset turnover g. Return on assets h. Return on common stockholders’ equity i. Debt to total assets ratio
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